A dear client gave me a book written by Timothy McCarthy called The Safe Investor. He took the time to mark a page that he thought described how I work. It was one of the best compliments I’ve ever received and I tried very hard to keep the following in mind last month.

McCarthy wrote “In the case of investing, an ideal advisor keeps the investment process and recommendations simple and straightforward and doesn’t overwhelm you with a lot of complicated words. She recommends investment products you can see straight through and understand what the underlying investments are; they aren’t loaded with a lot of complicated derivatives and hedges.

She has an uncomplicated fee structure and is naturally unpretentious in her approach.”

By the Numbers

My problem with October is centered around the issue of math over emotion.

Most of the economic data that came in as well as corporate earnings were favorable. The investing public got distracted. I’m not trying to minimalize fear but, so long as we allow ourselves to think that another 2008 is around the corner, we will leave money on the table.

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